Mumbai: Jubilant FoodWorks, which operates the chain of Domino's Pizza outlets, Thursday said it plans to hike its prices by 2-3 percent next month to beat inflationary pressure.
"The last time when we effected a price increases was in June this year. Before that last year in August and in November also we hiked our prices. Our next price hike will be in November and it will be a 2-3 percent increase," Jubilant FoodWorks Chief Executive Ajay Kaul told reporters on the sidelines of India Retail Forum here.
Earlier we used to effect two price hikes of nominal 2.5-3 percent each annually to cover the basic inflation, he said.
On the weak sentiment in the market, he said it is continuing but the firm is not alarmed by it.
"Our 22 percent same store sale in comparison to 30 percent in the previous quarter kind of faded out. I think that sentiment is continuing but not in an alarming manner. The kind of growth which we saw last year is not there. Yet, I will not say it is alarming," Kaul said.
The company plans to launch a new pizza variety to cash in on the festive season. "We will launch a new pizza in November-December but I cannot share the details with you now," he said.
PTI
